Many people make errors in filing their income taxes no matter what age they happen to be. Senior citizens are still required file income tax returns. Here are a few tips for seniors to help you when you file your taxes.
Be careful when you calculate your taxable amount for social security benefits. Use your social security benefit worksheet on your 1040 or 1040A form and double check it.
Maximize your standard deduction. Senior citizens can get a high standard deduction if you and/or your spouse are 65 years or older and you do not itemize your deductions. You can get an even high deduction if either you or your spouse is blind.
Get Credit for the Elderly or Disabled. You must file using the 1040 or 1040A form and not the 1040EZ form to get Credit for the Elderly or Disabled. Make sure to apply for credit if you qualify.
Consider filing electronically. By filing electronically you can get your refund in just a few days using the electronic banking system that will deposit the money into your checking or savings account. E-filing also helps you avoid the many errors that can be made on all the paper forms.
See if you qualify to file your tax return using the IRS free e-file. The IRS Free File provides free online tax software for Americans with a 2011 Adjusted Gross Income of $57,000 or less. You can access this service at www.irs.gov/freefile.